This page has been archived and commenting is disabled.
Cameron Says Second Global Crash Looming - Russian Relations Worsen at G20, Japan in Recession
Cameron Says Second Global Crash Looming - Russian Relations Worsen at G20, Japan in Recession
David Cameron warned last night that the global economy risked another crash and said in an article that 'red warning lights' were 'flashing on the dashboard of the global economy' and the eurozone was 'teetering on the brink' of another recession.
The warning came at the same time that the world’s largest economy, Japan, fell into another recession. Japan shrank by an annualised 1.6% in the third quarter. This followed a huge 7.3% contraction in the previous quarter caused by a rise in the national sales tax and ran counter to economists forecasts for a 2.1 percent rebound.
Mr Cameron's warning follows a claim by Bank of England governor Mark Carney that a 'spectre' of economic stagnation was haunting Europe. Christine Lagarde, managing director of the International Monetary Fund, has also expressed fears that a diet of high debt, low growth and unemployment may yet become 'the new normal in Europe'.
Writing in the Guardian at the close of the G20 summit in Brisbane, Cameron says there is now “a dangerous backdrop of instability and uncertainty” that presents a real risk to the UK recovery, adding that the eurozone slowdown is already having an impact on British exports and manufacturing.
Mr Cameron said global instability such as the continued eurozone crisis and the ebola outbreak threatened the UK's recovery.
The G20 summit in Brisbane seems to have been a highly entertaining affair. Albeit for all the wrong reasons.
The 20 richest countries in the world pledged to magic up 2.1% of economic growth over the next five years. How this is suddenly possible after six years of failure is unclear but it makes for good PR. Climate change was also high on the agenda.
But it was the brow-beating of Vladimir Putin by the leaders of the increasingly repressive free world that got most of the media attention. Canada's Harper reluctantly shook Putin's hand while demanding Russia pull out of Ukraine or face the might of Canada.
Australia's assistant secretary of defense was sent to greet him. Merkel said the EU is considering further sanctions even as protests by farmers across Europe are erupting due to the loss of the Russian export market.
Obama assured the G20 that the US, who have waged a series of bloody and costly wars since 2002 would lead the charge against Russia's aggression against Ukraine, "which is a threat to the world, as we saw with the appalling shoot-down of MH17" - the Malaysian Airlines flight which was shot down over Ukraine in July.
Australia's Abbott had threatened to "shirt front" - that is to physically confront - Putin over the atrocity which claimed 28 Australian lives.
Perhaps he was restrained from doing so due to the lack of evidence of Russian involvement in the attack on the plane which had been diverted from it's regular flight path and directed over rebel held territory by Ukrainian air traffic control.
While the Western media try to present Vladimir Putin as being a pariah in the "global community,” it is important to remember that Putin was treated as the guest of honour at the APEC conference in Beijing. The official photograph of that event made it clear that the US are now regarded as less important in the conduct of East-Asian affairs.
This week it was Putin's turn to be humiliated as the official photo placed him out at the very edge of the picture. No such disrespect was shown to China's Xi Jinping who appeared in the centre, indicating Australia's reliance on China. The close relations between Russia and China indicate that Putin is not as isolated as the media would make it seem.
Tensions between Russia and the West are escalating. The West are threatening even more sanctions unless Russia stop aiding pro-Russian rebels in Ukraine. Putin insists that Russia is not involved in Ukraine and so there is no resolution in sight.
The damage being inflicted on Russia's economy by sanctions have caused Russian figures to openly discuss dethroning the petrodollar. Sergey Glasyev, economic advisor to Putin, recently said that while "all freely convertible currencies are today under American control," the dishonest monetary policies of the US is leading towards the "end of the American financial empire."
"It will give us a chance to be among the first to suggest a new configuration for the world financial system in which the role of national currencies would be significantly higher," he said.
When that time comes what Russia will propose will almost certainly involve gold-backed currencies. In Q3 Russia bought more gold than the combined buying of all other central banks. Russia imported 55 tonnes of gold in that period.
Russia have increased their gold stocks three-fold since 2004. This is happening against a backdrop of central banks being net buyers since 2009.
Currency wars look set to rapidly escalate as Russia look to dethrone the dollar in response to onerous sanctions being placed on it by the west. Russia's official gold holdings have surpassed those of China with a dramatic upsurge in imports since sanctions began.
It is certain that currencies will come under increasing pressure over the next few months. The countries who have consistently improved their standards of living over the past two decades are also the countries who are consistently accumulating gold. The countries who have seen a steady decline over the same period appear to have little or no gold reserves.
It would be wise to act as ones own central bank and add some gold to one's portfolio.
Get Breaking News and Updates on the Gold Market Here
MARKET UPDATE
Today’s AM fix was USD 1,187.00, EUR 950.36 and GBP 759.49 per ounce.
Friday’s AM fix was USD 1,154.00, EUR 926.31 and GBP 736.20 per ounce.
Gold climbed $28.90 or 2.49% to $1,190.70/oz Friday. Silver surged $0.69 or 4.42% to $16.30/oz.
Gold and silver both finished up for the week at 1.31% and 3.56% respectively after prices spiked higher after the Asian and European markets were closed late in trade Friday.
Gold in U.S. Dollars - 5 Days (Thomson Reuters)
Gold hovered at two week highs on Monday, after a short covering rally and gold buying Friday.
Spot gold was at $1,187.20 an ounce by 0724 GMT, after earlier rising to a two-week high of $1,193.95. Friday’s jump over 2% allowed the metal to break out of a key technical level of $1,180.
Bearish bets on gold futures and options by hedge funds are near a record, according to CFTC data. Trading today on the Shanghai Gold Exchange’s benchmark bullion spot contract was the highest since April 2013.
Despite hugely negative sentiment towards gold, it is worth bearing in mind that gold is down just 1.3% this year.
Asian demand and particularly Chinese and Indian demand continues to be very robust.
India's October gold imports surged 280% year on year to $4.18 billion, the trade ministry said today
Ongoing softness in global gold prices is prompting more buying in the United Arab Emirates and in the Middle East. As jewellery buyers and store of wealth gold coin and bar buyers snap up gold in its various forms. There are estimates from the local jewellery trade showing that retail offtake for the full year in the UAE could be up by 15-20% in volume terms (in kilograms) on 2013, according to Gulf News.
Read Buy Gold Bars in the Safest Way and at the Lowest Prices
»
- GoldCore's blog
- 15220 reads
- Printer-friendly version
- Send to friend
- advertisements -
I have a question I'm hoping someone can answer without the usual angry undertone.
First a little about me. I owned and operated 2 restaurants for 17 years and had to sell them for nickles & dimes just after the 09' crash. Needless to say, I lost everything.
I am now driving a taxi full time and though the hours are rough, I'm actually having fun doing this and am keeping my head above water.
This job has shown me many things about people, many things that are honestly downright shocking! So many seem to feel the need to tell me their life stories among other things that have actually caused me to jerk the steering wheel.
Nevertheless, there is one common factor that pretty much all of these idiots seem to share...they are completely clueless! I mean clueless about all of these things outside of their little wealthy bubbles. This is Marin county, one of the wealthiest places on earth, and these peeps have no idea what's going on. Yes, some are poor, homeless, etc, while others are for the most part, living off of their trust funds and other things.
I've had over 30,000 passengers and of the great majority who want to talk & talk, none seem to know what's going on! This one old guy did say he was screwed because he wasn't receiving much of a return on his life's savings...retirement. Another was a retired banker from Switzerland who seemed as and perhaps even more informed than many here on ZH. Otherwise, this really shows how ignorant everyone seems to be.
This is my question,
Why am I so angry and bitter? I see the happy Wonderer everywhere I go & I want to bash his face in! It's not jealousy, I'm sure of that. It's frustration accompanied by headaches almost on a daily basis.
I want to start another business but both my wife and I feel like if we do, just when we are getting it going, the real crash which has been postponed by the fucking fed will come and destroy us once again!!!! I can't move on and I feel like I'm the only one with this problem.
The pain you go through is knowing the injustice and the risk ahead and the anger at seeing these simpletons who are causing the problem. Since they are clueless, they are being manipulated by the rulers. They are used as labor and votes and then thrown away when they are no longer needed.
It’s painful because you see the truth. But you are not alone, by a long shot, and some of these happy wanderers are not going to be happy or wandering when they get hit – which they will.
The train already has encountered the wall.
The Fed purposely has closed all the exits of opportunity for the lower 99 percent (except for its insider-manipulated stock market entrapment) which lead to a man’s ability to store his labor and skills as capital for future investment or merely for sustenance in his old age. Exits which for all practical purposes have been barricaded in this banker-occupied land of former opportunity are savings (because of ZIRP), home ownership with equity buildup (REIT acceleration has created profound risk in the real estate market and, thus, home ownership values), 401(k) investments (property ownership by your 401(k) is written to discourage and punish your returns), and small business ownership (now specifically targeted for annihilation by large, Fed-0connected monopolies) - all gratis of the Washington, DC, lobbyist-owned Establishment and the Fed.
What to do? It’s possible for you that business opportunities will start immediately. Watch the upcoming immigration train wreck coming in the US Congress. America will never be the same, sink or swim, after this one. I’m betting on widespread reform.
God bless, my friend.
Catherine Austin Fitts may be of interest and value to you. She has focused a lot of energy into how to survive the "slow burn" and operate in the future "economy".
At the very least she may give you ideas of the sectors and areas that she expects do well and why she thinks so eg robotics
She has the Solari Report and some posts on youtube.
She can also be good to listen to when the frustration gets too much - she has survived a lot and her spirit, humour, energy and compassion is in tact.
Buy yourself a good book : read Catcher in the rye, catch 22 or Portnoy's complaint. Better, read : How I learned to love my wife in the back seat of my taxi.
You're not the only one with this problem. I'm in the process of raising 2-300K to start up a microbrewer (in Oakland). And though there is a lot of capital just sitting on the sidelines not doing anything, I get the sense in the investment community that people aren't jumping at it because of the uncertainty. I wrote a five year business plan and won an award through the SBA - also have slide decks for equity investors to get involved - with and without external personal loans for myself, so it's not like I'm just pulling it out of my ass.
I'm torn because I know if I can get the money to buy the equipment, that will at least hold its value. But I'm also scared shitless that as soon as I'm ready to open and I've poured every last cent of mine into the business, the whole shit-show will come crashing down, and I'll be out of business before I even started.
My solution: I'm still going ahead with my venture. Fuck it.
Having the dollar as the world reserve currency is both a blessing and a curse. The world is currently engaged in a massive game of speculation and chance that contains a lot of risk. Political considerations and insider deals between both nations and Central Banks play a big roll in this game.
A chart I saw recently touted how the percentage of funds held by foreign governments in dollars has fallen in recent years. Even after many countries have reduced their holdings in dollar reserves the dollar still carries a major wallop and place in the world economy and will effect everyone going forward. More on how the dollars role as the reserve currency effects all of us in the article below.
http://brucewilds.blogspot.com/2014/11/reserve-currency-status-both-blessing.html
https://www.youtube.com/watch?v=anwy2MPT5RE
Perhaps the world and the United States would be a better place if the Fed were no longer in charge of the world’s reserve currency. Dr. Paul Craig Roberts was asked by Pravda.Ru:
Q: You wrote that the US government was full of determination to have the war on three fronts: Syria, Lebanon and Iran – in the Middle East, China – in the Far East and Russia – in Europe. Does the country have financial possibilities for that?
A: The US is bankrupt. However, the US dollar remains the world reserve currency. This means that the US can print money to pay its bills. As long as the world accepts the dollar as world reserve currency, the US will be able to continue its wars,”
http://www.paulcraigroberts.org/2012/09/25/usa-continue-wars-long-dollar-remains-reserve-currency
If the world wants peace and prosperity, it must dissolve the Fed. The Fed is not using the dollar for America; it is using it as its own personal weapon to take over the world. And when it's finished, the world won't belong to America; it will belong to the bankers.
Because the Fed controls and issues the dollar as the world’s reserve currency, the international bankers have more power over Americans; they are using it as their personal power implement. And if you want the proof, just look at those G20 officials who are using their invectives against Russia; they get their backbone from the Federal Reserve reserve currency.
If the world was a free, open market you wouldn’t see them refusing to shake hands with Russia… or smarting off to Putin.
Indeed .
And who can have respect for the Camerons of the world ?
Loss of Respect scuppers all .
See
https://www.academia.edu/9354151/The_Economics_of_Disrespect_
Or
http://andreswhy.blogspot.com/2014/11/economics-of-disrespect.html
Remember chaps Putin knows commie and Li is a commie!
Carney, Cameron, and Legarde are all laying the foundation for: 'It's not me ... I told you about this'.
Ironically the one who is most responsible, Mr. Obama, is touting his great foresight and many accomplishments along with his 30 million TWTR followers.
If Putin isn't careful Harper will call John Key in New Zealand and then he'll feel the mighty wrath of two reluctant handjobs...ugh, hand shakes!
Cameron and Harper remind me -- after the big guys have pummeled everybody with tomatoes and eggs and ball bats—of the little guys who run back, stick out their tongues and yell, Na-nana-naa-nah! And rush back to the safety of the big guys.
So, they pissed all over Putin at the G20 conference, but the world is still waiting for the black box information from MH17 to be made publicly available.
In effect, the U.S. passed sanctions against Russia without first proving that Russia was in any way involved in shooting down the Malaysian plane. This amounts to a conviction without verifiable evidence being shown.
Well you can sell all the spoos you want here around 2040 only a few points off all time highs. Or you could wait till they are at 2500 next year.
The European Civil War of 2017 will see the beginnings of an Islamic Caliphate staring in the UK and France. The civil war will be started by economic incompetance, high unemployment and uncontrolled immigration supported by socialists such as Joyce Thacker in the Labour Party.
THE WAR OF CIVILIZATIONS: THE ISLAMIC CALIPHATE IN EUROPE
http://eurocivilwar2017.wordpress.com/
As the central-bank-purchased media covers us head to toe with its self-described successful “isolation” of Putin at the G20 meeting, the real truth struggles out. Consider this:
This "Putin Isolated" Nonsense Is Dangerous
November 16, 2014
Source: Moon of AlabamaThese headlines are silly:
Even more silly then those headlines was the German prime news Tagesschau which used a picture of Putin seemingly sitting alone at a lunch table to prove his "isolation". But news service pictures show that he is sitting with the Brazilian president Dilma Rousseff waiting for the other lunch guests to sit down next to them. These were simply not visible in the frame Tagesschau selectively used.
And do these headline writers, TV correspondents and politicians know what the 20 in G-20 means? The people who publicly miffed Putin in Brisbane were Obama, Cameron, Harper, Abbott and Abe. I count five out of twenty.
Those leaders who did not "isolate" Putin by grandstanding in front of the media were from Argentina, Brazil, China, France, Germany, India, Indonesia, Italy, Mexico, Saudi Arabia, South Africa, Republic of Korea and Turkey. Many of the leaders of those countries had one on one talks with Putin. Merkel alone had a three hour talk with Putin. Did that make him feel lonely?
Fact is Putin is about as isolated as the Pope.
Fact is also that those "world leaders" who "isolated" Putin represent a minority of people, military and economic power of the world. As Putin himself correctly pointed out before the G-20 meeting:
Incidentally, the combined GDP of the BRICS countries calculated using purchasing power parity is already bigger than that of the so-called G7 countries. As far as I know, the BRICS countries have more than $37 trillion calculated using purchasing power parity, while the G7 has $34.5 trillion. And this upwards trend is in favour of the BRICS, not vice versa.
Now all this silly isolation talk would be funny if the people in power would recognize it for the bullshit it is. Unfortunately a lot of stupid people in Washington DC, politicians as well as media folks, believe in their own propaganda bullshit and therefore tend to miscalculate in their assessments of global policies. This is dangerous as it often has bloody consequences.
http://www.blacklistednews.com/This_%22Putin_Isolated%22_Nonsense_Is_Dangerous/39215/0/38/38/Y/M.html
Thanks for the post JR...
Sure seemed to me that the British Empire and its cousins were sticking together...
re Cameron says Global Crash Looming.
Yes - we know Dave. You and your buddies stole it all
From the article: "The warning came at the same time that the world’s largest economy, Japan,..."
Since when is Japan the "world's largest economy," and by what measure?
re Since when is Japan the "world's largest economy," and by what measure?
Radiation emissions.
Photo: Putin and the hyenas, or, Putin and the banking-corporate puppets
When system threatens with a new crisis
http://failedevolution.blogspot.gr/2014/02/when-system-threatens-with-ne...
The European elections were a strong anti-EU statement as Failed Evolution predicted:
“The only certain thing is that, people must not retreat in propaganda of fear and understand that they have the power to resist against the forces and the politics which systematically impoverish them. For this reason, the oncoming euro elections could be a great chance and not only for Europeans.”
Prescient article, for instance: “Eurozone member-states appear to be trapped between the markets, which are ready to attack any time, and the ECB, and this is the reason they proceed in further "preventive" measures of cruel austerity.” Thanks!
Thank you!
Looking at history, the banksters' go to effort to prop up debt burdened and floundering nations is:
War.
The racket of all rackets.
An American, not US subject.
We're going to need a bigger guillotine."
"It is in war that the State really comes into its own: swelling in power,
in number, in pride, in absolute dominion over the economy
and the society."
-Murray Rothbard
The G20 photograph from Australia tells the story – a meeting of thieves whose massive economic failures bring forth agreement on the one cause, the man they pushed off to the edge, the non-thief, Vladimir Putin.
What havoc has the financialization of the global economy – now claiming 40% of total US profits -- wreaked upon the world’s people, whereby the “money is lent out to create yet more debt owed by the bottom 90 percent to the economy’s top 10 percent, whereby, in the words of economist Michael Hudson, “Wall Street has financialized the public domain to inaugurate a neo-feudal tollbooth economy while privatizing the government itself, headed by the Treasury and Federal Reserve”?
In the words of the G20 puppets above, the truth of their centralized planning in all its ugliness emerges…
“the global economy risked another crash”; “'red warning lights' were 'flashing on the dashboard of the global economy'”; the eurozone… 'teetering on the brink' of another recession”; a “'spectre' of economic stagnation was haunting Europe”; “fears that a diet of high debt, low growth and unemployment may yet become 'the new normal in Europe'”; “a dangerous backdrop of instability and uncertainty”; “the eurozone slowdown is already having an impact on British exports and manufacturing”; while “global instability” abounds from “the continued eurozone crisis.”
And all the blame for their financial terrorism is directed to (drum roll)... Russia. For, according to Bloomberg, it is not they themselves but Russia that “poses the biggest security risk to world markets.”
Gregory Viscusi writes in all seriousness today that, according to a Bloomberg Global Poll of international investors, when “asked which of five possibilities posed the greatest risk to global financial markets, 52 percent of participants chose the Russia-Ukraine conflict. Twenty-six percent cited Islamic State, while Ebola barely registered with 5 percent. The U.S. was seen as the most likely beneficiary from lower crude prices.”
Propagandizing Bloomberg’s global bias and lies, Viscusi falsely laces in claims of Russia’s guilt when it is, in truth, the US that is the perpetrator of the attacks on Russia's economy and the Ukraine:
“Russia is being buffeted by the twin blows of sanctions and an oil-market selloff that threatens to hollow out its economy. While the country is menacing Ukraine with tanks and sending its jets into foreign airspace, President Vladimir Putin said Nov. 14 that the drop in crude is potentially 'catastrophic' for the world’s largest energy exporter.”
“'The Russia-Ukraine situation is more dangerous as we have a sovereign state, which is trying to increase its power by creating chaos both through threatening actions of war,' Mikael Simonsen, chief sales manager for cross asset sales at Nordea Bank in Helsinki and a poll respondent, said by e-mail. 'This might impact the common thinking of how developed we are today, and impact the risk premium.'”
What the American people are getting is the globalists’ new-world-order side of the story as they wrap up their catastrophic “international order”; and nothing from the reality side.
http://www.bloomberg.com/news/2014-11-16/russia-seen-as-greatest-threat-in-poll-as-oil-erodes-putin-power.html
cameron is standing on a ladder in this picture...i mean REALLY?...sanctions against russia causes depression...
its 1914 the same old ...OLD etonians i know whats best for you some cold hard steel...im right behind you tally-ho
the man who said"you do the crime -do the time"about juvenille jailed rioters who knicked a bottle of milk-but
whose chums in londons banks rig what were once the free markets of the world stealing billions and never go near
a court nevermind prison...
Cameron being the cheeky cunt he is, knowing full well the fraud that has been ongoing.
Cameron is a POS. Go look at his Wiki his grandafather was a German *** banker and the family has raised money for 200 years or more for the Red Shield for wars. So his family has been profiting from the mass murder of people for 200 years, Putin's family has not done that.
Since it's a given they're not warning us for our benefit this leaves two main possibilities:
It's gonna crash up as they inflate the hell out of stuff while screaming deflation. Buying stocks directly etc.
It's gonna crash down. Now they can say "I told you so. It's Putin's fault"
Bets? I may as well just take my ball and go home. I'm not in the club.
I thought that to with Putin, but the problem with that is if you blame him for your economy imploding and people and businesses going broke then you have to do something. And are they willing ot go to war aka a nuclear war over that lie? The crash up seems more like it and it buys them a little and I do mean a little time. It will be hyperinflation but that is better to them than nuclear war.
Leaders of the free world are just now starting to understand what most of us have known for years, massive debt is an anchor that will weigh down the global economy and collapse its markets catastrophically.
That 'red warning lights' are 'flashing on the dashboard of the global economy' is not news and the eurozone has been 'teetering on the brink' of another depression, not recession.
Global deflation is happening now, it's just only now beginning to be acknowledged by world leaders -- because they can no longer deny it.
http://www.globaldeflationnews.com/inflation-vs-deflation-part-1which-on...
Your exactly right, all they have to do is look at their everyday lives and see how debt can weigh down your economic potential. If you have debt that your servicing with your paycheck every month, you have less money to buy things and/or you curtail the stuff you really want. Debt is an anchor and it drags you down and eventually it will drown you.
There are 10 seats and 20 players. Going to a mess when the music stops.
I reckon that red light that is flashing is like the brake or thermostat indicator on your dash in your car. If that red light comes on it is already too late and the damage has been done.
They are only semi-acknowledging the tsunami coming at them. We should start seeing signs of real panic pretty soon and then they'll drag out their REALLY bad idea's on how to fix things.
When do you ever tell your enemy what you are going to do? Why would you give them plenty of time to prepare?
This is such a farce. It's like saying "be careful or we'll land on Normanday some time around June 6, 1944." Thanks for the heads up. Now we can move tanks to that area and be ready for what happens. Idiots.
Putin is a scumbag like any other politician, but he seems to have a better understanding of how this game works. Putin has absolutely no transparency. He doesn't say what he's about to do next. He just does things. Our leaders are the opposite. They show all their cards to Putin, they say exactly what their plan is, they give him lots of time to prepare and retaliate, and then they act surprised when Putin is 10 steps ahead.
I'm not sure why Canada's leader would be a dick to Putin. Maybe he's not aware that Russia and Canada are right next to each other. The earth is not flat. It's a ball. You can fly over the top to get to the other side.
It's because the US and her "Allies" are playing politics and/or is coerced into saying things because of economic reasons. It's not hard to believe that we have deluded ourselves in this country so much that we believe our propaganda that we are invicible and everything we say is right. We drank the exceptionalism koolaid and think we can't do no wrong. If you don't believe me then ask yourself why in gods name would the US pick a fight with a country that can destroy them just as easily with nukes and continue to pick a fight. That isn't strategy, that is arrogance and believing that we can't do no wrong. Here's what I think may happen, China may attempt to take over Australia and parts of Canada in the future (especially if we as a superpower implodes financially).
half truths, is the same that not telling anything
no, they just didn't get any better.
what got worse?
the foto op?
merkel's mumbling?
obama's posturing?
harper's harangue? (discussed in detail elsewhere?
ok, i give up what got worse?
BS rehash FF
It's hard work avoiding reality.
Oregon GMO label vote alive, margin down to 0.3%, lobbyists spend over $2,000 per winning vote
Podcast Infotrap: Anthony Freda’s 9/11 Truth art accepted in official museum, remixes Kim Kardashian pic
Gotta love the highly informational scale on the gold chart, truly a classic propaganda technique. For fellow 'Mericans fearing another nationalization of gold, check the price action of Homestake Mining during the 1930s.....
And instead of getting a zoomed in version of the chart when clicking on it one gets sent to the advertisement writer's sales site. Pretty cheesy at best.